Unpacking YES BANK AT-1 Bond Saga

By Tarun Agarwal, Student at Institute of Law, Nirma University

Introduction

The Additional Tier 1 (AT 1) Bondholders of Yes Bank have filed a case in the Madras High Court challenging the legal validity of the Master Circular issued by the RBI. The circular allowed to write down the AT 1 bonds worth Rs 8,415 crore completely after a scheme of reconstruction of Yes bank was approved by the government and the RBI.

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